Adesto Technologies Corp. (IOTS) Downgraded to Sell at Zacks Investment Research
According to Zacks, “Adesto Technologies Corporation is a provider of application-specific non-volatile memory products. The company designed and built a portfolio of innovative products which includes Fusion Serial Flash, DataFlash(R) and Conductive Bridging RAM (R). It sells products directly to original equipment manufacturers and original design manufacturers. Adesto Technologies Corporation is headquartered in Sunnyvale, California. “
Several other equities research analysts have also issued reports on the stock. Roth Capital began coverage on shares of Adesto Technologies Corp. in a report on Thursday, September 1st. They issued a buy rating and a $4.00 price target on the stock. Needham & Company LLC lowered their price target on shares of Adesto Technologies Corp. from $6.00 to $4.00 and set a strong-buy rating on the stock in a report on Wednesday, August 10th. Finally, Oppenheimer Holdings Inc. reissued a hold rating on shares of Adesto Technologies Corp. in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $6.60.
Shares of Adesto Technologies Corp. (NASDAQ:IOTS) opened at 2.04 on Wednesday. The firm’s market capitalization is $30.71 million. The company’s 50-day moving average is $2.37 and its 200-day moving average is $3.71. Adesto Technologies Corp. has a 12-month low of $1.98 and a 12-month high of $8.50.
Adesto Technologies Corp. (NASDAQ:IOTS) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The business had revenue of $10.30 million for the quarter, compared to analysts’ expectations of $10.20 million. Adesto Technologies Corp.’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) earnings per share. On average, equities analysts forecast that Adesto Technologies Corp. will post ($0.71) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IOTS. Spark Investment Management LLC increased its position in Adesto Technologies Corp. by 42.0% in the first quarter. Spark Investment Management LLC now owns 23,149 shares of the company’s stock worth $130,000 after buying an additional 6,849 shares during the last quarter. Vanguard Group Inc. increased its position in Adesto Technologies Corp. by 135.9% in the second quarter. Vanguard Group Inc. now owns 64,178 shares of the company’s stock worth $210,000 after buying an additional 36,975 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in Adesto Technologies Corp. by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,739,084 shares of the company’s stock worth $5,704,000 after buying an additional 497,912 shares during the last quarter. Institutional investors own 25.20% of the company’s stock.
Adesto Technologies Corp. Company Profile
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
Receive News & Stock Ratings for Adesto Technologies Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adesto Technologies Corp. and related stocks with our FREE daily email newsletter.